JSW Steel repurchases 478 FCCBs worth US$47.80 Million

JSW Steel Ltd has announced that the Company has repurchased 478 Zero Coupon Foreign Currency Convertible Bonds (FCCBs) of US $ 1,00,000 each aggregating to US $ 47.80 Million, listed on the Singapore Exchange Securities Trading Ltd, in accordance with the A.P. (DIR Series) Circular No. 39 dated December 08, 2008 issued by the Reserve Bank of India.

The cancellation & extinguishment of the same will be done as per the terms of the Offering Circular.

The stock was trading at Rs.225, up by Rs.22.05 or 10.86%. The stock hit an intraday high of Rs.226.70 and low of Rs.204.05.

The total traded quantity was 540740 compared to 2 week average of 334063.

Source : Equity Bulls

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